Being a First Time Home Buyer can be overwhelming and most of the time you do not have any idea what you are paying for and what you can afford. That is why a Home Mortgage Calculator can be handy and a useful resource.

Advantages of Using a Home Mortgage Calculator

• It allows you to estimate your monthly mortgage payment using your home price, down payment, and other loan details.
• It will help you determine if your target purchase price is within your budget.
• It will give you an idea of how much down payment should you put down to get the best interest rates and loan options.
• It allows you to compare the type and terms of loan dependent on your financial situation.
• It allows you to calculate how much mortgage can you afford.

          Here are the 7 effective and user-friendly Mortgage Home Calculators that you can try and can help you to estimate your monthly home payment including principal, interest, taxes, insurance, and other fees.

1. NerdWallet – This free mortgage calculator lets you estimate your monthly house payment, including principal and interest, taxes, insurance, and PMI.

2. Rocket Mortgage – Rocket mortgage calculator can help you estimate your monthly mortgage payment. You can estimate how much you will pay for principal and interest. You can also opt to include your taxes and insurance in their payment estimate.

3. Zillow – This home loan calculator quickly estimates your total mortgage payment including principal and interest, plus it also estimates payment for PMI, property taxes, home insurance, and HOA fees.

4. US Bank – This mortgage payment calculator provides customized information based on your information. This calculator also makes assumptions about closing costs, lender’s fees, and other costs, which can be significant.

5. Money.com – Use this mortgage calculator to estimate your monthly payments based on home price, current mortgage rates, and loan type.

6. Quicken Loans – Use this mortgage payment calculator to see how much your monthly payment could be. View estimated house payments on 30-year fixed and another popular loan.

7. Forbes Advisor – This calculator helps you estimate your monthly mortgage payments based on the purchase price, down payment, interest rate, and other monthly homeowner expenses.